A top ECB official called on EU banks still operating in Russia to exit the market asap.
His comments followed news that some Western firms are still operating in Russia, despite sweeping sanctions.
It's unclear how many Western banks are still doing business in Russia.
The Financial Times reported in January that just a handful of the 45 Western banks with subsidiaries in Russia have managed to exit.
Still, EU banks have managed to reduce their exposures to Russian counterparties by 37% in 2022, he said.
Persons:
—, Russia —, Andrea Enria, Enria, it's
Organizations:
ECB, Service, European, European Central Bank, European Financials Conference, Financial Times, Novaya Gazeta Europe, Austria's, Raiffeisen, Reuters, Yale University, Russia
Locations:
Russia, Ukraine, Novaya